Industrials

American Express Shares Rise on Higher Q4 Earnings, Revenue

American Express (AXP) shares rose more than 7% in recent Friday trading after the company reported Q4 earnings of $2.62 per diluted share, up from $2.07 a year earlier. Analysts surveyed by Capital IQ expected $2.63. Revenue for the quarter ended Dec. 31 was $15.8 billion, up from $14.18 billion a year earlier. Analysts polled by Capital IQ expected $15.95 billion. The company said it expects full-year 2024 earnings of $12.65 to $13.15 per share, with revenue growth of 9% to 11%. Analysts surveyed by Capital IQ expect EPS of $12.32 on revenue of $66.21 billion. Price: 201.74, Change: +13.67, Percent Change: +7.27

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American Express Company (AXP) Q4 2023 Earnings Call Transcript Summary

The following is a summary of the American Express Company (AXP) Q4 2023 Earnings Call Transcript: Financial Performance: American Express reported a record annual revenue of $61 billion in 2023, marking a 15% increase on an FX adjusted basis. The company achieved a record net income of over $8 billion with an EPS of $11.21. The Q4 2023 results saw revenues reaching nearly $16 billion and an EPS of $2.62. Projected annual revenue growth for 2024 is between 9% and 11% with a full-year EPS expected to be between $12.65 and $13.15. The quarterly dividend will increase from $0.60 to $0.70 a share starting Q1 2024. Full-year revenues stood at $60.5 billion, up 15% on an FX adjusted basis. Fourth quarter revenues were at $15.8 billion, reflecting an 11% YoY increase. The company returned $5.3 billion of capital to shareholders in 2023 and plans to continue investing in the balance

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Visa Growth Potential Seen Underestimated

Visa’s persistent growth continues to be underestimated by Wall Street, UBS analysts say in a research note. The digital payments company has attractive qualities in the current environment and could grow through moderate recessionary conditions, analysts say. The company also has high-quality EPS and margins. Still, investors are concerned about cash to card conversion slowing, as well as on U.S. online debit routing, creating an attractive buying opportunity, analysts add. Shares fall 1.4% to $268.93.

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Visa’s Earnings May Benefit From Robust International Travel, Morgan Stanley Says; Raises Price Target to $318

Visa’s (V) earnings could benefit from the ongoing strength of international travel, Morgan Stanley said Friday in a note. The investment firm’s expectations are based on management’s commentary on healthy travel volumes in Latin America, Europe, Central Europe, Middle East, and Africa and the US. Visa’s international volumes showed healthy growth while US domestic spending witnessed a slowdown due to various transient factors, including a less favorable mix of weekends, softer performance in October and impacts from debit card regulations, the brokerage firm said. Morgan Stanley revised the price target on V’s stock to $318 from $292 and reiterated overweight rating.

Visa’s Earnings May Benefit From Robust International Travel, Morgan Stanley Says; Raises Price Target to $318 Read Post »

Visa Adjusted EPS Tops Wall Street Views

Visa is one of the most mentioned companies in the U.S. across all news items in the last 12 hours, according to Factiva data. It reported fourth-quarter adjusted earnings of $2.41 a share on Thursday, while analysts surveyed by FactSet had expected $2.34. Visa also said U.S. payment volume growth slowed in January amid extreme weather conditions. Raymond James, RBC Capital and UBS raised Visa price targets on Friday. Shares were recently down 1.6%. Dow Jones & Co. owns Factiva.

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BofA lowered Boeing to Neutral from Buy and cut the price objective to $225 from $255

Boeing — BA-NYSE Neutral — Price $214.13 on Jan. 25 by BofA Global Research In the wake of the Alaska Airlines Flight 1282 incident, where a 737 MAX-9 door plug was ejected from the fuselage in midflight, Boeing has again found itself in the spotlight of materially increased regulatory scrutiny. The subsequent grounding and Federal Aviation Administration mandated production rate freeze at current levels will likely prevent Boeing from reaching its 2025-26 production, delivery, and free-cash-flow goals outlined during its 2022 investor day. We expect the FAA ruling to delay Boeing’s 737 ramp by roughly a year. We move to the sidelines with our rating on the shares, lowering it to Neutral from Buy and cutting our price objective to $225 from $255.

BofA lowered Boeing to Neutral from Buy and cut the price objective to $225 from $255 Read Post »

CFRA Maintains Buy Rating On Shares Of Visa Inc.

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: Our target price of $325, up $35, values shares at 28.3x our FY 25 (Sep.) EPS, discounted to V’s 5-year historical average of 31.9x, given the higher rate environment and moderately slower growth expectations. We decrease our FY 24 EPS estimate to $10.13 from $10.16 and lower FY 25’s to $11.49 from $11.61. Visa reported Dec-Q results, with net revenues of $8.63B (+9% Y/Y) and adj-EPS of $2.41, surpassing consensus estimates of $8.56B and adj-EPS of $2.34. Payment volume (+8%) slowed in the quarter as strength in Europe and LAC was met with weakness in the U.S. and Asia Pacific. Unfortunately, management highlighted that January is off to a rocky start in the U.S. (+4%), but we see this as a low water mark as severe weather

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Visa Inc. (NYSE:V) Stock Analyst Ratings

Visa Inc. (NYSE:V) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/26/2024 17.36% Raymond James $287 → $311 Maintains Outperform 01/18/2024 0% Mizuho $243 → $265 Maintains Neutral 01/08/2024 13.21% Keybanc $275 → $300 Maintains Overweight 12/20/2023 — Monness, Crespi, Hardt Initiates Coverage On → Neutral 12/14/2023 15.09% UBS $295 → $305 Maintains Buy 12/12/2023 11.32% Jefferies $280 → $295 Maintains Buy 12/05/2023 5.66% BMO Capital → $280 Initiates Coverage On → Outperform 10/31/2023 -8.3% Mizuho $240 → $243 Maintains Neutral 10/30/2023 4.91% Barclays $285 → $278 Maintains Overweight 10/25/2023 1.89% Wedbush → $270 Reiterates Outperform → Outperform 10/25/2023 8.3% Raymond James $284 → $287 Maintains Outperform 10/18/2023 -4.91% Oppenheimer $248 → $252 Maintains Outperform 10/18/2023 3.77% Keybanc $265 → $275 Maintains Overweight 10/13/2023 0.38% HSBC → $266 Initiates Coverage On → Hold 10/12/2023 7.55% Barclays $287 → $285 Maintains Overweight 10/12/2023

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Visa Fiscal Q1 Non-GAAP Earnings, Revenue Rise; Sets Guidance

Visa (V) reported fiscal Q1 non-GAAP earnings late Thursday of $2.41 per diluted share, up from $2.18 a year earlier. Analysts surveyed by Capital IQ expected $2.34. Revenue for the quarter ended Dec. 31 was $8.63 billion, up from $7.94 billion a year earlier. Analysts surveyed by Capital IQ expected $8.56 billion. The company said it expects EPS growth in the high teens for fiscal Q2 and in the low teens for fiscal full-year 2024. It expects net revenue growth in the upper mid to high single-digit for fiscal Q2 and low double-digit for the fiscal full year. The company kept its quarterly dividend at $0.52 a share, payable March 1 to shareholders of record on Feb. 9.

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RTX’s Pratt & Whitney Fixing Affected Engines Faster, Raytheon Could See Turnaround in 2025, BofA Says

RTX’s (RTX) Pratt & Whitney unit is delivering new full-life disks ahead of expectations and fixing impacted engines faster, while the Raytheon business is likely poised for a turnaround in 2025, BofA Securities said in a note Thursday. BofA analysts, including Ronald Epstein, took note of better-than-projected execution in servicing contaminated powder-metal discs in geared turbo fan aircraft engines. Pratt & Whitney is fixing affected engines faster to avoid a peak of 650 jets on the ground, according to the analysts. The company’s Collins Aerospace subsidiary continues to take advantage of higher aftermarket demand and a recovery in wide-body flight volume, while Raytheon’s recent restructuring and management changes “give us more confidence in a turnaround of that business in 2025,” the analysts said. The brokerage upgraded its rating on the aerospace and defense contractor’s stock to neutral from underperform and raised its price objective to $100 from $78.

RTX’s Pratt & Whitney Fixing Affected Engines Faster, Raytheon Could See Turnaround in 2025, BofA Says Read Post »

General Dynamics (NYSE:GD) Stock Analyst Ratings

General Dynamics (NYSE:GD) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/25/2024 14.1% RBC Capital → $300 Reiterates Outperform → Outperform 10/26/2023 8.39% Susquehanna $270 → $285 Maintains Positive 10/26/2023 0.41% Wells Fargo $243 → $264 Maintains Overweight 10/11/2023 0.79% UBS → $265 Initiates Coverage On → Neutral 09/28/2023 3.07% Deutsche Bank → $271 Initiates Coverage On → Buy 09/26/2023 -1.88% Berenberg $254 → $258 Maintains Market Perform 09/25/2023 2.69% Susquehanna → $270 Reiterates Positive → Positive 09/19/2023 7.63% Citigroup $283 → $283 Maintains Buy 09/18/2023 -7.58% Wells Fargo $258 → $243 Maintains Overweight 07/28/2023 -1.88% Wells Fargo $244 → $258 Maintains Overweight 07/27/2023 -4.92% Morgan Stanley $248 → $250 Maintains Equal-Weight 07/27/2023 2.69% RBC Capital → $270 Reiterates Outperform → Outperform 07/27/2023 -4.54% JP Morgan $245 → $251 Maintains Overweight 04/27/2023 2.69% RBC Capital $280 → $270 Maintains Outperform 04/27/2023 -4.54%

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